Distributions and Payments. Section 4.01.
Distributions and Payments. Section 6.01 Establishment of Accounts; Withdrawals from Accounts; Deposits to the Distribution Account....................................................................................76 Section 6.02 Permitted Withdrawals From the Distribution Account........................................78 Section 6.03 Collection of Money........................................................................78 Section 6.04 [RESERVED].................................................................................78 Section 6.05 Distributions..............................................................................78 Section 6.06 Investment of Accounts.....................................................................81 Section 6.07 Reports....................................................................................82 Section 6.08 Additional Reports by Trustee..............................................................85 Section 6.09
Distributions and Payments. 59
Section 6.01 Establishment of Accounts; Withdrawals from Accounts; Deposits to the Certificate Account..................................................................59 Section 6.02 Permitted Withdrawals From the Certificate Account.......................................61 Section 6.03 Collection of Money......................................................................61 Section 6.04 The Certificate Insurance Policy.........................................................62 Section 6.05 Distributions............................................................................64 Section 6.06
Distributions and Payments. Section 6.01 ESTABLISHMENT OF CERTIFICATE ACCOUNTS; DEPOSITS TO THE CERTIFICATE ACCOUNTS..........................................79 Section 6.02 PERMITTED WITHDRAWALS FROM THE CERTIFICATE ACCOUNTS...........79 Section 6.03
Distributions and Payments. (a) Prior to a CP Swap Termination Event, on each Distribution Date the Trustee shall apply the funds in the Certificate Account, solely to the extent of Available Funds in the Certificate Account, as follows:
(i) first, to the Trustee, reimbursement for any approved Extraordinary Trust Expenses incurred by the Trustee in accordance with Section 6(b) hereof and approved by not less than 100% of the Certificateholders;
(ii) second, pro rata to the holders of Certificates, distributions at the rate determined by reference to the then-applicable Floating Rate on the stated amount of the Certificates to holders of the Certificates on such Distribution Date, commencing on the earlier to occur of an Unscheduled Payment Date and September 15, 2004 and ending on the Final Scheduled Distribution Date;
(iii) third, pro rata or, as applicable, by lot as selected by the Trustee in the event of a partial redemption, to the Certificateholders, any distribution of the principal amount (or make-whole amount, if any) in whole or in part, of the Underlying Securities up to 100% of the principal amount of the Certificates;
(iv) fourth, to the Swap Counterparty, in satisfaction of any Trust Swap Termination Payment then due and payable;
(v) fifth, pro rata, to the Certificateholders, any make-whole amount not otherwise paid to the Swap Counterparty pursuant to clause (iv) above;
(vi) sixth, to the extent there remain Available Funds in the Certificate Account, to any creditors of the Trust in satisfaction of liabilities thereto; and
(vii) seventh, to the extent there remain Available Funds in the Certificate Account, to Merrill Lynch Capital Services, Inc. and if no Available Fuxxx xxxaxx xx the Certificate Account then no distribution will be made pursuant to this Section 5(a)(vii). Subject to Section 9(c) hereof, to the extent Available Funds are insufficient to make any required distributions due to the Certificates on any Distribution Date, any shortfall will be carried over and will be distributed on the next Distribution Date on which sufficient funds are available in the Available Funds to pay such shortfall. Neither Merrill Lynch & Co. nor any of its Affiliates will have any claim agaxxxx xxe Xxxxt pursuant to Section 5(a)(vi) if the Trust fails to make a distribution on a Distribution Date to such person because no Available Funds remain in the Certificate Account on such Distribution Date.
(b) Following the occurrence of a CP Swap Termination Event, on each Distribu...
Distributions and Payments. For each Accounting Period, on a cumulative basis, Distributable Cash shall be paid and distributed to the Members in the ratio of their respective Membership Percentages.
Distributions and Payments. Section 6.1 Establishment of Certificate Account, Additional Certificate Account, Capitalized Interest Account and Pre-Funding Account; Deposits to the Certificate Account, the Additional Certificate Account, Capitalized Interest Account and the Pre-Funding Account.
(a) The Trustee shall establish and maintain the Certificate Account which shall be titled "Certificate Account, ________________, as trustee for the registered holders of Mortgage Pass-Through Certificates, Series _____, Class A and Class R" and which shall be an Eligible Account. Notice of the establishment of the Certificate Account shall be promptly provided in writing to each of the Servicer, the Rating Agencies and the Certificate Insurer.
(b) The Trustee shall establish and maintain the Additional Certificate Account which shall be titled "Additional Certificate Account, ________________, as trustee for the registered holders of Mortgage Pass-Through Certificates, Series _____, Additional Certificates." Notice of the establishment of the Additional Certificate Account shall be promptly provided in writing to each of the Servicer, the Certificate Insurer and the Holder of the Additional Certificate.
(i) The Trustee shall establish and maintain the Pre-Funding Account which shall be titled "Pre-Funding Account, ________________, as trustee for the registered holders of Mortgage Pass-Through Certificates, Series _____, Class A" and which shall be an Eligible Account. The Trustee shall deposit the Original Group I Pre-Funded Amount from the proceeds of the sale of the Class A-1 Certificates and the Original Group II Pre-Funded Amount from the proceeds of the sale of the Group II Certificates into the Pre-Funding Account on the Closing Date.
(ii) The Trustee shall establish and maintain the Capitalized Interest Account which shall be titled "Capitalized Interest Account, ________________, as trustee for the registered holders of Mortgage Pass-Through Certificates, Series _____, Class A" and which shall be an Eligible Account. The Trustee shall deposit the Capitalized Interest Requirement from the proceeds of the sale of the Class A Certificates into the Capitalized Interest Account on the Closing Date unless an Eligible Letter of Credit with respect to such amount has been delivered to the Trustee on the Closing Date.
(d) The Servicer may direct the Trustee in writing to invest the funds in the Certificate Account, the Capitalized Interest Account and the Pre-Funding Account only in Permitted...
Distributions and Payments. Section 3.1 Payments to the Indenture Trustee......................
Distributions and Payments. Establishment of Accounts; Withdrawals from Accounts; Deposits to the Distribution Account................................72 Section 6.02 Permitted Withdrawals From the Distribution Account.................73 Section 6.03 Collection of Money.................................................73 Section 6.04 The Certificate Insurance Policy....................................73 Section 6.05 Distributions.......................................................75 Section 6.06
Distributions and Payments. Trustee shall be entitled to hold as part of the Trust Estate, subject to the Trust Agreement, all income, interest or distributions from cash, Cash Equivalents and all Proceeds, provided that such income, interest or distributions shall be pledged as Collateral hereunder.
